Greece’s Motor Oil eyes LNG supplies from Adnoc for Dioriga Gas FSRU

Greece’s Motor Oil is looking to import liquefied natural gas in the future from UAE’s Abu Dhabi National Oil Co (Adnoc) via its planned Dioriga Gas FSRU in the Gulf of Corinth.

Motor Oil said in a statement that its unit Motor Oil Renewable Energy or More, developer of the FSRU project, has signed a memorandum of understanding with Adnoc as well with Masdar to work on new investment possibilities and potential opportunities in Greece.

Under the deal with Masdar, the two firms will work on joint renewable energy projects, including electricity generation and energy storage. The duo will also look to develop offshore wind farms in Greece.

In addition, Adnoc and More “wish to explore potential opportunities of active collaboration in the upcoming FSRU terminal of Dioriga Gas at the region of Agioi Theodori,” Motor Oil said.

This includes the supply of LNG cargoes in Greece, the firm said, but it did not provide any additional information.

LNG capacity boost

Adnoc is looking to double its LNG production capacity from 6 to 12 million tons per annum, as part of a $127 billion capital spending plan for 2022-2026.

Adnoc LNG, a joint venture in which the UAE giant has a 70 percent stake, currently produces about 6 mtpa of LNG from its facilities on Das Island off the coast of Abu Dhabi.

Also, Adnoc is also reportedly planning to build a large LNG export facility at Fujairah, located on the Gulf of Oman.

Greek FSRU plans

Dioriga Gas, a unit of Motor Oil, said earlier this year that fifteen firms had shown interest in booking capacity at its planned FSRU-based import project, following a non-binding market test.

The 4 Bcm terminal would be located about 70 km from Athens, in the area of Agioi Theodori, near Motor Oil’s refinery.

Dioriga Gas says the FSRU would have a maximum storage capacity of up to 210,000 cbm and it would connect to a jetty about 150 meters from the coast.

Greece currently imports LNG via DESFA’s import terminal located on the island of Revithoussa.

However, the country will get new facilities as Europe looks to reduce reliance on Russian gas.

Greece’s Gastrade recently officially started building the country’s first FSRU-based project in Alexandroupolis.

Gastrade is also planning to install a second FSRU offshore Alexandroupolis and it won a license for this project.

Besides these developments and the Dioriga Gas FSRU, Greece’s Mediterranean Gas, the developer of an FSRU-based import project which includes ExxonMobil, recently received approval for its planned development in the port of Volos.

In addition, Elpedison, a power firm owned by Greece’s Hellenic Petroleum and Italy’s Edison, recently revealed plans to install an FSRU off Thessaloniki.

Most Popular

Shell adds another LNG carrier to its fleet

A unit of UK-based LNG giant Shell has added another chartered liquefied natural gas carrier to its fleet.

Energy Transfer’s Lake Charles LNG secures DOE extension

Texas-based Energy Transfer has secured a permit extension from the US DOE to start exports from its proposed Lake Charles LNG export facility in Louisiana.

Eni’s Nguya FLNG ready to start serving second phase of Congo LNG project

Italian energy firm Eni hosted on Tuesday the sail-away ceremony for the Nguya floating liquefied natural gas (FLNG) unit in Shanghai, China. The unit is ready to start serving the second phase of Eni's Congo LNG project.

More News Like This

Santos further extends exclusivity period for Adnoc takeover

Australian LNG player Santos has further extended the exclusivity period for its proposed $18.7 billion takeover by a consortium led by Adnoc's investment unit, XRG.

Santos says Adnoc takeover deal delayed

Australia LNG player Santos said on Tuesday that a consortium led by Adnoc's investment unit, XRG, would not be able to finalize the previously announced $18.7 billion takeover bid for another four weeks.

Adnoc L&S welcomes new LNG carrier in its fleet

UAE’s Adnoc L&S, a unit of state-owned energy giant Adnoc, has taken delivery of the third 175,000-cbm LNG carrier from China’s Jiangnan Shipyard.

Santos wins GLNG court battle against Fluor

Australian LNG player Santos has secured a court battle over Gladstone LNG project construction work that will see a unit of Fluor paying out more than A$692 million ($451.5 million). Santos also announced that it has granted an extension to the XRG consortium to enable the consortium to finalize due diligence and progress a scheme implementation agreement.